Conversations on this and that. A place to gather and civilly (politely, courteously) discuss current events, happenings, or just fun things to laugh about. You have the right to your own opinion, but remember ... so does everyone else. Those with nothing to add to the conversation will not be warmly welcomed.

Wednesday, April 21, 2010

A New Global Tax Coming?

There is a new tax coming in form of a VAT, not the VAT that you have heard about in recent days that taxes every item consumed, produced and used by Americans but one that will put US CITIZENS into the tank paying a GLOBAL TAX. This is actually nothing new since it was presented and AGREED to by the participants of the G-20 SummitThat of course included “dear leader Obama” who believes he is the “world leader”.

Of course Glenn Beck mentions this today, actually telling the truth on the matter, and the leftist go wild in refuting him instead of doing their homework and see that what he said is real, not made up. I have been reading blogs since this afternoon after his statement and the remarks are from silly, stupid, to downright hate filled threats against someone who would report the truth.

This is not the first such tax that the IMF has given support to which would tax US CITIZENS on a global level. The original tax was called the Tobin Tax which has since been revised by George Soros (the man who broke the Bank of England and destroyed other economies as well). I wrote about the subject sometime ago. (Tuesday, September 9, 2008Barack Hussein Obama, George Soros, the Tobin Tax and the Tie That Binds)

George Soros had taken the Tobin Tax a step farther and created what he calls SDRs, or Special Drawing Rights, which is the method by which the taxes would be distributed. SDRs are part of a country's official foreign exchange reserves. They serve as a means of payment among Fund members. IMF creates SDRs "through a process of allocation and distribution to IMF members (International Monetary Members, created by the UN)." Before the U.S. could become involved in this scheme, it would have to be implemented by the U.S. Congress. This is how. It is of and by Barack Hussein Obama and his Global Poverty Bill which has been sitting around awaiting the right time to be placed into the voting format. Of course some other Senator would put the Bill forth and give Obama some credit for“thinking up such a great well to help the poor around the world.

Soros sees in this pending SDR allocation a readily available means "to finance the provision of public goods on a global scale as well as to foster economic, social, and political progress in individual countries ..." (Richer countries would donate their SDR allocations to specific improvement projects in poorer countries. Poorer countries would keep their allocations as an addition to their monetary reserves. Can you say, redistribution of wealth?)

TheVAT tax, just like any other tax will add an additional burden to those already paying the bulk of taxes PLUS those who pay NO taxes. But some argue “shouldn’t everyone pay taxes?” Of course they should but they should not be a regressive tax as the VAT has been shown to be. Since VAT is a tax on consumption rather than income or investments, it’s considered a regressive tax. Poor people, who tend to spend a higher percentage of their income than wealthier ones, are disproportionately affected by consumption-based taxes. In the U.S., regressive sales taxes are balanced out by a progressive income tax structure. There would be no such tax to balance out the consequences of the Global VAT tax.

Countries are broke and looking for a fast buck to bail them out, mainly through taxes rather than reduced spending. The US is no different and taxes are what will pay for all of Obama’s programs regardless of the consequences.

When the world goes broke, what is left? Let me just say, one heck of a fight for what little is left and folks it ain’t gonna be a pretty fight. It will be all out war for who can control the rest. Of course the first ones that will have to be taken out of the fight will be the elite who will be controlling what little is left. They will control not only the purse strings but the weapons of war as well to a great extent. But they won’t control all of them and it will be war. Could it spell Armageddon? You decide!

3 comments:

Countries don’t ‘go broke’ for as long as they can tax their citizens. I think the economic collapse comes when the US and other countries cannot find any other country to purchase their debt. And the only way that will happen is when interest rates are increased dramatically. Now of course, this means that consumers will stop spending … so governments will tax at higher rates. In the end, we’ll all die and it will be Obama’s fault.

Actually the "green fund" is another scam by Soros which would further enrich the Left Rev. Gore and others in the GW scam.

He is proposing that developed countries lend the money they received in Special Drawing Rights (SDR) from the International Monetary Fund (IMF) in September back to the Fund so it can be distributed to projects in the developing world.

"The developed world received over $150 billion and they really have no use for it at all," Soros told CNN, from the United Nations climate summit in Copenhagen.

Soros said the money could be distributed via the IMF to a "Green Fund" that would invest in projects to reduce carbon emissions.

In September, all 186 IMF member countries received an allocation of SDRs, in an initiative agreed upon at the G-20 meeting in London in April.

It was part of a $1.1 trillion plan to stimulate economic growth by pumping more money into the global economy.

Soros' said he had floated his proposal with a number of governments and anticipated their support, although he expected some resistance in the U.S. Congress.

"The main difficulty actually is that it would require Congressional approval in the United States. And that's a cumbersome and painful process for the Administration to go through," he said. (Of course they could use Reconciliation again )

"They would probably prefer not to do it unless the political will can be generated. I think that the President would certainly favor it," he added. (And I add certainly his sock puppet would be all for it. Obama must do his master's bidding.)

It is one scam after the other Maggie and would make a great lead for a blog post. Listing the scams would take more than one day's postings. Just think, we ain't seen nuthin yet.

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